Sticker Price At T14

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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EvilClinton
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Sticker Price At T14

Postby EvilClinton » Mon Oct 15, 2012 5:29 pm

Some one just sent this to me. I think it is pretty cool. It has the cost of attendance at each of the T14s (2012-2013) and calculates the interest you will pay each semester if you took the full amount of loans out and gives the possible payment options.

There are some problems with it.

1. It uses in state tuition for the 3 public schools when you will likely pay out of state tuition for your first year at those schools.

2. It does not calculate the effect of getting a biglaw SA. You can pay for some of your living expenses as a 3L with money used from your 2L SA.

3. It assumes tuition rates will remain constant every year. They will most likely rise during the course of 3 years.

Image

Better Resolution Here:http://i.imgur.com/llNIJ.jpg
Last edited by EvilClinton on Mon Oct 15, 2012 6:22 pm, edited 2 times in total.

badaboom61
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Re: Sticker Price At T14

Postby badaboom61 » Mon Oct 15, 2012 5:35 pm

Great post. I would love to some someone update this with realistic out-of-state tuition (for instance, is in-state available after first year?) and build in the projected increases over 3 years using the same percentage increases as the last year or two at each given school. I think the standard seems to be 5% at most of these schools, but I'm not sure if some have been lower or higher of late.

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rayiner
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Re: Sticker Price At T14

Postby rayiner » Mon Oct 15, 2012 6:00 pm

The chart is nice in principle, but some of the numbers are wrong. For example, NU includes $2,000 for a computer and $2,000 for loan origination fees, while the others do not. NYU's number is just plain off by $5,000.
Last edited by rayiner on Mon Oct 15, 2012 6:02 pm, edited 1 time in total.

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justonemoregame
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Re: Sticker Price At T14

Postby justonemoregame » Mon Oct 15, 2012 6:00 pm

Law School Transparency has estimated this stuff and factored in tuition increases. There is also the Georgetown calculator, which you can customize:

http://www.law.georgetown.edu/admissions-financial-aid/office-of-financial-aid/loader.cfm?csModule=security/getfile&pageid=61621

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EvilClinton
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Re: Sticker Price At T14

Postby EvilClinton » Mon Oct 15, 2012 6:03 pm

rayiner wrote:The chart is nice in principle, but some of the numbers are wrong. For example, NU includes $2,000 for a computer and $2,000 for loan origination fees, while the others do not. NYU's number is just plain off by $9,000.

Huh....what is NYU's supposed to be?

Also, every school includes different things and every person budgets differently so saying they are incorrect for that reason is sort of stupid.

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EvilClinton
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Re: Sticker Price At T14

Postby EvilClinton » Mon Oct 15, 2012 6:07 pm

Hmm....I just saw that NYU's is wrong. I did not make this but I do have the spreadsheet so I am going to change it and repost.

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rayiner
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Re: Sticker Price At T14

Postby rayiner » Mon Oct 15, 2012 6:08 pm

EvilClinton wrote:
rayiner wrote:The chart is nice in principle, but some of the numbers are wrong. For example, NU includes $2,000 for a computer and $2,000 for loan origination fees, while the others do not. NYU's number is just plain off by $9,000.

Huh....what is NYU's supposed to be?

Also, every school includes different things and every person budgets differently so saying they are incorrect for that reason is sort of stupid.


$78,112.

And it's not stupid to compare like-with-like. E.g. the $2,000 for the computer is a separate loan, not available to you for 2L and 3L. And you're going to pay a 4% origination fee no matter how you slice and dice the budgeting.

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IAFG
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Re: Sticker Price At T14

Postby IAFG » Mon Oct 15, 2012 6:10 pm

Does this leave out interest accrued while in school? I am not seeing where it's added in.

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EvilClinton
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Re: Sticker Price At T14

Postby EvilClinton » Mon Oct 15, 2012 6:11 pm

IAFG wrote:Does this leave out interest accrued while in school? I am not seeing where it's added in.

No it is added by the yellow column but it does not break it out separately.

CanadianWolf
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Re: Sticker Price At T14

Postby CanadianWolf » Mon Oct 15, 2012 6:13 pm

Scary. Just in time for Halloween.

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Borg
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Re: Sticker Price At T14

Postby Borg » Mon Oct 15, 2012 6:16 pm

Edward Tufte would hate those graphs.

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EvilClinton
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Re: Sticker Price At T14

Postby EvilClinton » Mon Oct 15, 2012 6:24 pm

rayiner wrote:
EvilClinton wrote:
rayiner wrote:The chart is nice in principle, but some of the numbers are wrong. For example, NU includes $2,000 for a computer and $2,000 for loan origination fees, while the others do not. NYU's number is just plain off by $9,000.

Huh....what is NYU's supposed to be?

Also, every school includes different things and every person budgets differently so saying they are incorrect for that reason is sort of stupid.


$78,112.

And it's not stupid to compare like-with-like. E.g. the $2,000 for the computer is a separate loan, not available to you for 2L and 3L. And you're going to pay a 4% origination fee no matter how you slice and dice the budgeting.

Fixed NYU.

IDK what to tell you about the different costs. If you have a better way of comparing total debt loads let me know.

Oban
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Re: Sticker Price At T14

Postby Oban » Mon Oct 15, 2012 9:35 pm

lol @ paying nearly 2K per month (25 years) if you don't make biglaw. I guess if IBR continues to exist, then it's minimum payments all day erry day.

005618502
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Re: Sticker Price At T14

Postby 005618502 » Mon Oct 15, 2012 9:52 pm

:shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock:

I know the numbers, but it always looks so much worse written out!

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2014
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Re: Sticker Price At T14

Postby 2014 » Tue Oct 16, 2012 12:16 am

Just fyi but no one gets UVA in state status after their first year, you either have it for all three years or none basically. Not sure about Mich. For UVA you are probably better off doing a weighted average of in state and OOS cost based on the proportions of the student body in each group.

orlandowilliam
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Re: Sticker Price At T14

Postby orlandowilliam » Thu Oct 18, 2012 9:17 am

This is a great post shared of the price At T14. However,Stickers have great trend so the LOL SPAM about stickers. Perfect. And GONE. companies have provided a great opportunity to customers to have the price online. On the other hand, the prices of T14 are good, but looking for the latest ones, if any...

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Br3v
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Re: Sticker Price At T14

Postby Br3v » Thu Oct 18, 2012 10:21 am

AssumptionRequired wrote::shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock:

I know the numbers, but it always looks so much worse written out!


As in, oh yeah 250,000 is A QUARTER MILLION DOLLARS worse.

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Br3v
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Re: Sticker Price At T14

Postby Br3v » Thu Oct 18, 2012 10:22 am

2014 wrote:Just fyi but no one gets UVA in state status after their first year, you either have it for all three years or none basically. Not sure about Mich. For UVA you are probably better off doing a weighted average of in state and OOS cost based on the proportions of the student body in each group.


Why is it that no one gets it after first year? Just hard to meet the requirements?

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IAFG
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Re: Sticker Price At T14

Postby IAFG » Thu Oct 18, 2012 11:37 am

Br3v wrote:
2014 wrote:Just fyi but no one gets UVA in state status after their first year, you either have it for all three years or none basically. Not sure about Mich. For UVA you are probably better off doing a weighted average of in state and OOS cost based on the proportions of the student body in each group.


Why is it that no one gets it after first year? Just hard to meet the requirements?

Some states specifically say you can't be a full time student during the year you are trying to gain residency and IIRC Virginia is one of them.

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2014
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Re: Sticker Price At T14

Postby 2014 » Sun Oct 21, 2012 4:37 pm

Yeah iirc you need to have lived and worked there for a year outside of an academic setting or have parents who live there. I think I've only heard of one person successfully managing it in UG and they switched their drivers license, license plate, registration, signed a pretty long lease, and had a nearly full time job.

So yeah safer assumption is that it doesn't happen

Didn't mean to nitpick or anything, it just is a little deceptive to see UVA look significantly cheaper.




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